California Real Estate Exam 2024 - Collection 3 - Question 117
Автор: Luyện Thi BĐS Cali
Загружено: 2024-08-12
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California Real Estate Exam 2024
Collection 3
Question 117: Which of these expenses would not be included in the Uniform Settlement Statement form provided to the parties after a RESPA-covered transaction closes:
A. Appraisal fee.
B. Finder's fees paid to a lender by a broker.
C. Title insurance fee.
D. Pest inspection cost.
Correct answer is (B). Finder's fees paid to a lender by a broker.
The Real Estate Settlement Procedures Act (RESPA) is designed to ensure transparency and prevent borrowers from being unfairly burdened by excessive closing costs. Finder's fees are an internal business arrangement between the lender and the broker, not a cost directly charged to the borrower. Finder’s fees are illegal under RESPA.
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